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Managerial Accounting 1B Ch12

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Question;Managerial Accounting 1B;Financial;and Managerial Accounting;Chapter 12Exercise 12-5B Computation of cash flows (direct) L.O. P5;Case A;Compute cash received from;customers;Sales;$;510,000;Accounts receivable;December 31, 2011;25,200;Accounts receivable;December 31, 2012;34,800;Case B;Compute cash paid for rent;Rent expense;$;140,800;Rent payable, December 31;2011;8,800;Rent payable, December 31;2012;7,200;Case C;Compute cash paid for;merchandise;Cost of goods sold;$;528,000;Merchandise inventory;December 31, 2011;159,600;Accounts payable, December;31, 2011;67,800;Merchandise inventory;December 31, 2012;131,400;Accounts payable, December;31, 2012;84,000;For each of the above three;separate cases, use the information provided about the calendar-year 2012;operations of Sahim Company to compute the required cash flow;information. (Omit the "$" sign in;your response.);Case A;Cash received from customers;Case B;Cash paid for rent;Case C;Cash paid for merchandise;Exercise 12-6 Cash flows from operating activities (indirect);L.O. P2;BEKHAM;COMPANY;Income Statement;For Year Ended December 31, 2011;Sales;$;1,818,000;Cost of goods sold;891,000;Gross profit;927,000;Operating expenses;Salaries;expense;$;248,535;Depreciation;expense;43,200;Rent;expense;48,600;Amortization;expenses?Patents;5,400;Utilities;expense;19,125;364,860;562,140;Gain on sale of;equipment;7,200;Net income;$;569,340;Changes in current asset and;current liability accounts for the year that relate to operations follow.;Accounts receivable;$;40,500;increase;Accounts payable;$;13,500;decrease;Merchandise inventory;27,000;increase;Salaries payable;4,500;decrease;Use the above income statement and;information about changes in noncash current assets and current liabilities;to prepare only the cash flows from operating activities section of the;statement of cash flows using the indirect method.(Amounts to be deducted should be indicated with a minus;sign. Omit the "$" sign in your response);Exercise 12-7B Cash flows from operating activities (direct);L.O. P5;Changes in current asset and;current liability accounts for the year that relate to operations follow.;Use the above income statement and;information about changes in noncash current assets and current;liabilities to prepare only the cash provided;or used by operating activities section of the statement of cash flows for;this company using the direct method.(Amounts to be deducted should be indicated with a minus;sign. Omit the "$" sign in your response.);Exercise 12-10 Preparation of statement of cash flows (indirect);L.O. P1;[The following;information applies to the questions displayed below.];Use the;following financial statements and additional information.;Additional Information;a.;A $30,000 note payable;is retired at its $30,000 carrying (book) value in exchange for cash.;b.;The only changes;affecting retained earnings are net income and cash dividends paid.;c.;New equipment is;acquired for $58,600 cash.;d.;Received cash for the;sale of equipment that had cost $48,600, yielding a $2,000 gain.;e.;Prepaid Expenses and;Wages Payable relate to Other Expenses on the income statement.;f.;All purchases and;sales of merchandise inventory are on credit.;Exercise 12-10 Part 1;(1);Prepare a statement of cash flows;for the year ended June 30, 2011, using the indirect method.(Amounts to be deducted should be indicated with a minus;sign. Omit the "$" sign in your response.);Exercise 12-10 Part 2;(2);Compute the company's cash flow on;total assets ratio for its fiscal year 2011.(Round;your answer to 1 decimal place. Omit the "%" sign in your;response.);Cash flow on total;assets ratio;Exercise 12-13B Preparation of statement of cash flows (direct);from Cash T-account L.O. P1;[The following information;applies to the questions displayed below.];The following;summarized Cash T-account reflects the total debits and total credits to the;Cash account of Texas Corporation for calendar year 2011.;Cash;Balance;Dec. 31, 2010;135,200;Receipts;from customers;6,000,000;Payments;for merchandise;1,590,000;Receipts;from dividends;208,400;Payments;for wages;550,000;Receipts;from land sale;220,000;Payments;for rent;320,000;Receipts;from machinery sale;710,000;Payments;for interest;218,000;Receipts;from issuing stock;1,540,000;Payments;for taxes;450,000;Receipts;from borrowing;2,600,000;Payments;for machinery;2,236,000;Payments;for long-term investments;2,260,000;Payments;for note payable;386,000;Payments;for dividends;500,000;Payments;for treasury stock;218,000;Balance, Dec. 31, 2011;$;?;6. Exercise 12-13B Part 1;(1);Use this information to prepare a;complete statement of cash flows for year 2011. The cash provided or used by;operating activities should be reported using the direct method. (Amounts to be deducted should be indicated with a;minus sign. Omit the "$" sign in your response.);7. Exercise 12-13B Part 2;(2);Refer to the statement of cash;flows in part 1 to answer the following questions a through d;a.(i) Which section shows the largest cash inflow?;a.;(i) Which section shows the;largest cash inflow?;(ii) Which section shows the;largest cash outflow?;b.;What is the largest individual;item among the investing cash outflows?;c.;The cash proceeds are larger from;d.;From borrowing activities the;company has

 

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